Power Integrations, Inc. (NASDAQ:POWI) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in shares of Power Integrations, Inc. (NASDAQ:POWI) by 17.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,644 shares of the semiconductor company’s stock after selling 1,167 shares during the quarter. Pitcairn Co.’s holdings in Power Integrations were worth $362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copeland Capital Management LLC raised its stake in shares of Power Integrations by 21.5% in the third quarter. Copeland Capital Management LLC now owns 1,207,121 shares of the semiconductor company’s stock valued at $77,401,000 after acquiring an additional 213,392 shares in the last quarter. M&G PLC purchased a new stake in Power Integrations during the 3rd quarter worth about $9,820,000. D. E. Shaw & Co. Inc. raised its position in Power Integrations by 40.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 457,470 shares of the semiconductor company’s stock valued at $32,110,000 after purchasing an additional 131,735 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Power Integrations by 23.4% in the 2nd quarter. Millennium Management LLC now owns 593,164 shares of the semiconductor company’s stock valued at $41,634,000 after buying an additional 112,595 shares during the period. Finally, Congress Asset Management Co. grew its position in shares of Power Integrations by 18.4% during the third quarter. Congress Asset Management Co. now owns 621,875 shares of the semiconductor company’s stock worth $39,875,000 after buying an additional 96,609 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 price target (down previously from $100.00) on shares of Power Integrations in a research note on Monday, August 5th. StockNews.com raised shares of Power Integrations from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Power Integrations from $73.00 to $68.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. TD Cowen decreased their price target on Power Integrations from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Finally, Susquehanna dropped their price objective on Power Integrations from $80.00 to $77.00 and set a “positive” rating on the stock in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Power Integrations Stock Performance

Power Integrations stock opened at $65.66 on Wednesday. The company has a market capitalization of $3.73 billion, a P/E ratio of 99.49, a PEG ratio of 6.90 and a beta of 1.10. Power Integrations, Inc. has a fifty-two week low of $56.63 and a fifty-two week high of $89.68. The stock has a 50-day simple moving average of $62.92 and a 200-day simple moving average of $67.53.

Power Integrations (NASDAQ:POWI) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $115.84 million during the quarter, compared to the consensus estimate of $114.83 million. Power Integrations had a return on equity of 4.14% and a net margin of 9.27%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, analysts forecast that Power Integrations, Inc. will post 0.54 earnings per share for the current year.

Power Integrations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.21 dividend. The ex-dividend date is Friday, November 29th. This is a positive change from Power Integrations’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.28%. Power Integrations’s payout ratio is currently 121.21%.

Insider Activity

In other news, VP Doug Bailey sold 8,549 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $64.96, for a total transaction of $555,343.04. Following the completion of the sale, the vice president now owns 86,375 shares in the company, valued at $5,610,920. This represents a 9.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.50% of the company’s stock.

Power Integrations Company Profile

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.